Vodafone’s European organic service revenue growth dropped again in the September quarter, to -1.3%, and we estimate that it continues to underperform its competitors’ growth by two percentage points, thus losing market share. Margins also fell, as the company’s cost reduction measures continue to fail to stop costs rising

Just three players now account for most French broadband connections: Orange’s DSL market share is closing on 50%, Iliad’s rose to 25% from consolidation with Alice, while SFR’s dropped to 23.7%, with Neuf’s rebrand imminent. Cable remains a minimal presence on broadband

Vodafone Europe’s service revenue growth dropped by two full percentage points in the quarter to June 2008; Spain plummeted from +5.1% to -2.5%, but the UK and Italy’s underlying growth also fell, with only Germany stable

Having acquired national broadcast TV rights for premium content, France Télécom’s Orange TV will launch on satellite on 3rd July and introduce subscription football and film and series services from August, in a first for a major European telecoms incumbent

Canal+ is entering a critical phase of growth following the recent merger with its former rival Télévision Par Satellite (TPS). Vivendi has set short term guidance targets for 2010 of 11.5 million subscriptions, turnover above €5 billion and more than doubling of EBITA from €490 million to over €1 billion. This presentation examines these targets and concludes that Canal+ will fall short of all them. In the best case baseline scenario of least competition from other pay-TV and free-to-air (FTA) services, it projects EBITA in 2010 of just €890 million

Vodafone’s Q4 revenues were healthy if a little weak, with underlying growth slowing from 2.0% to 1.8%, but the improvement in Germany is very welcome

Vodafone UK has announced a tariff refresh that includes ‘free’ mobile browsing with all of its new contract plans

Vodafone’s European performance was very solid, with underlying growth of 1.9%, up from 1.7% last quarter, with some very encouraging moderation to price cuts in Germany and elsewhere